Gold & Silver Afternoon Update 10/1/2025 | The Bregar Minute
A brutally choppy rest of the day for the precious metals following the better-than-expected ISM Manufacturing report and news that the US Supreme Court will not allow Trump to remove Fed Governor Cook. US yields and the dollar bounced for two hours following these releases (traditionally negative influences), but gold & silver amazingly hung in there (I think because of the non-sensical rip higher for stocks into mid-day). Bonds then caught a bid again this afternoon, in turning bringing back USD sellers (a positive influence), but the precious metals were sold out of the COMEX closing range. A very confusing day all-around, but with gold & silver now swiftly rejecting an attempt to regain the COMEX closing range into the NY close, I think we could see the precious metals cool off some more overnight. The calendar looks very baren here with day 2 of China’s Golden Week holiday on deck tonight (no daily CNY fix), and no weekly jobless claims report for tomorrow (because of the US government shutdown).
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